76% of Catholics say they feel moral obligation to help poor hit by climate change. So a poll of >1,000 UK Catholics shows. A third would change lifestyle if the Pope says so.Ecotricity boss has a plan for 80% renewable-powered UK by 2030. Developed with Cambridge Econometrics, it bans new coal from 2020.
2.5.15.Oil industry contaminants found in California irrigation water. Tougher fracking regulation requires more detailed monitoring. Methylene chloride + found. Chevron says water is safe.
1.5.15.Tesla unveils batteries for homes & businesses. Powerwall, to be shipped to installers by summer, can “change the entire energy infrastructure of the world”, Elon Musk says.Musk launches Tesla Energy on You-Tube. “The sun shows up every day”. But not at night. “The issue with existing batteries is that they suck”. But.“Tesla’s Powerwall Event: The 12 Most Important Facts:” Bloomberg. “Its cheap, but not too cheap”. $3,500 for a 10-kilowatt-hour version: not yet competitive with grid. But.“Elon Musk Challengers Jostle to Solve Riddle of Energy Storage”. They are working on a variety of alternatives to lithium including ice tanks on roofs for air cooling, compressed air, +.
30.4.15.Church of England ends investment in coal and tar sands. In excluding companies with >10% revenues, the £9 bn fund has “read the last rites” to the two industries, campaigners say.Glencore says there is not chance of its fossil fuel assets being stranded. CEO Ivan Galsenberg says that energy reality means there will be no measures to stop full utilisation.Saudi Arabia burns 5% of its foreign reserves in February & March. This record burn of $36bn is in due in part to King Salman giving government workers a bonus, plus regional turmoil.“How Shale Is Becoming The .COM Bubble Of The 21st Century”. Hedge fund manager Leonard Brecken writing for oilprice.com
29.4.15.G20 to invesigate carbon-bubble risk. The G20 has asked the Financial Stability Board in Basel to convene a public-private inquiry into the fall-out, modelled on the Bank of England’s enquiry.“HSBC advises clients against fossil fuel investment”: Time. Carbon Tracker publishes a blueprint for adaptation by fossil fuel companies.“These Titans of Oil Are Experts at Making Bold Predictions”: Bloomberg. “They just don’t often come true.” A sobering look at track records.US oil production decline is not about rig count, but cash flow available for completions. So Art Berman says in his latest blog. We are seeing true break-even price for shale oil is $75-85.Peabody Coal: global warming is “a crisis predicted by flawed computer models”. The real crisis is the poverty that absence of coal will inflict, says CEO Gregory Bryce.Beijing plans cutbacks of shale gas subsidies. This despite Sinopec having said it cannot break even without subsidies, and Petrochina cutting back its shale joint venture with Shell.
28.4.15.Senior Vatican official attacks fossil fuels. Meanwhile, the Papal encyclical will be out in June. Ban Ki-moon says it will urge moral impartive to cut emissions, after meeting the Pope.Shell and BP alone have far more ministerial meetings than renewables sector. Guardian analysis of 2010 – 2014 register of meetings shows this.
27.4.15.“Oil industry debt mounts up”: WSJ. Bond issuance so far in 2015 is up 10% on last year. Both independent and state oil companies are involved in the $86 bn hike.Shell lobbied to undermine EU renewables target. The weak goal for 2030 has much to do with their lobbying for gas, documents sought by the Guardian under Freedom of Information show.Centrica: we’ll need Russian gas for years to come. So CEO Ian Conn tells shareholders at his AGM. For the EU to replace it is “unrealistic”.Pension funds failing to manage climate risk could face being sued. So says the Asset Owners’ Disclosure Project and Client Earth. 85% of funds are doing nothing on climate risk, they say.US rig count falls for 20th week, US oil production is now falling, while demand rises. Rig count was 1,609 on 10 Oct. Now 703, down 53%. So Mark Lewis writes for Kepler Cheuvreux. (No url).Human activity responsible for three out of four heat extremes, study finds. A Met Office reviewer calls message from the Swiss Federal Institute of Technology and others “striking”.HCF emissions up 54% with air conditioning on the rise. So new research in the Proceedings of the Natural Academy of Sciences shows.